Silver Standard
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als "grundausstattung" in einem Depot sollte man sie haben
wird von Rohstoffraketen schon lange als Geheimfavorit angeboten und gepriesen
und hat schon fast 100 % gemacht
für die Zukunft ist diese Aktie ein Muß im Depot
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Silver Standard Resources Inc.: Updated Resource Estimate for Diablillos Silver-Gold Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2009) - Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) reports an updated resource estimate for the wholly-owned Diablillos Project located in the Province of Salta in northern Argentina. The Project is 275 kilometers (171 miles) south of Silver Standard's Pirquitas Mine in the Province of Jujuy. The resource estimate follows recent diamond drilling completed by Silver Standard which was successful in converting a significant portion of the previously reported inferred resources into the indicated category.
The following block model resource estimate is for the Oculto Zone, one of 11 mineralized zones identified on the property. This resource estimate was completed by Dr. Gilles Arseneau, P. Geo., Chief Geologist, of Wardrop, A Tetra Tech Company in Vancouver, B.C. Dr. Arseneau is an 'independent qualified person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and has verified the Diablillos data disclosed in this release.
The resource estimate was based on 54,954 assays from 301 holes drilled on the Oculto Zone. Mineral resources were estimated, using Gems Software version 6.2, into 10 x 10 x 5 m blocks within grade shells representing greater than 0.5 g/t gold and greater than 40 g/t silver, using ordinary kriging and 1.5 m composited drill data. Blocks outside of the grade shells were also estimated using ordinary kriging. Blocks within the greater than 0.5 g/t Au and greater than 40 g/t Ag grade shells were classified as Indicated and those outside of the grade shells as Inferred.
Diablillos Project - Oculto Zone Resource Summary - June 2009 (1)
--------------------------------------------------
Contained Ounces(1)
-------------------------------
Category Tonnes Gold Silver Gold Silver
(millions) (g/t) (g/t) (in oz.) (in millions of oz.)
--------------------------------------------------
Indicated 21.6 0.922 111 640,000 77.1
--------------------------------------------------
Inferred 7.2 0.807 27 187,000 6.3
--------------------------------------------------
(1) The cut-off grade is based on US$10.00 recovered metal values (RMV) and
the following metal prices and recoveries: gold (US$700/oz, 65%); and
silver (US$11.00, 40%).
Based on a locked-cycle metallurgical program using conventional milling, preliminary precious metal recoveries averaged 86.9% for gold and 87.0% for silver. The heap leaching characteristics of the mineralization were also tested on a number of composites. Recoveries from column tests using a 3/4 inch crush averaged 65.2% for gold and 43.5% for silver. A pre-feasibility study will be undertaken that will explore various combinations of milling and heap leaching alternatives for this significant silver-gold resource.
Kenneth C. McNaughton, M.A.Sc., P.Eng., vice president, exploration, Silver Standard Resources Inc., is the qualified person responsible for the Diablillos Project.
Silver Standard Resources Inc. is a significant silver and gold resource company making the transition from explorer to producer as well as seeking growth through exploration and development of its own projects. (Source: Silver Standard Resources Inc.)
To receive Silver Standard's news releases by e-mail, contact Paul LaFontaine, director, investor relations at invest@silverstandard.com or call (888) 338-0046.
Statements contained in this news release that are not historical fact, such as statements regarding the economic prospects of the company's projects, future plans or future revenues, timing of development or potential expansion or improvements, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company's ability to raise sufficient capital to fund development, changes in economic conditions or financial markets, changes in prices for the company's mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Canada, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in the company's filings with the Securities and Exchange Commission.
Cautionary note to U.S. investors: The terms "indicated mineral resource", and "inferred mineral resource" used in this news release are Canadian geological and mining terms as defined in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves. We advise U.S. investors that while such terms are recognized and permitted under Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in the measured and indicated categories will ever be converted into reserves. "Inferred mineral resources" in particular have a great amount of uncertainty as to their economic feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules estimates of inferred mineral resources may not generally form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that any part or all of an inferred mineral resource exists, or is economically or legally mineable. Disclosure of contained metal expressed in ounces is in compliance with NI 43-101, but does not meet the requirements of Industry Guide 7 of the SEC, which will only accept the disclosure of tonnage and grade estimates for non-reserve mineralization.
The TSX has neither approved nor disapproved of the information contained herein.
For more information, please contact
Silver Standard Resources Inc.
Robert A. Quartermain
President
(604) 689-3846
or
Silver Standard Resources Inc.
Paul LaFontaine
Director, Investor Relations
N.A. toll-free: (888) 338-0046 or Direct: (604) 484-8212
invest@silverstandard.com
www.silverstandard.com
Silver Standard Is Evolving From A Pure Play Silver Company Into A Much Broader Precious Metals Story
By Rob Davies
A resource base of over 1,700 million ounces of silver has a gross in-situ valuation of US$25,000 million. That is what Silver Standard has to its name, and the market correspondingly values the company at US$1,400 million, or 82 cents an ounce. As a way of playing silver there can surely be few better or cheaper ways. But it gets better than that because the company is rapidly adding lots of gold to its resource base as well – gold from the Snowfield property in British Columbia. At the last count this property had four million ounces in indicated resource and another 14 million in the inferred category. In gross value that is another US$17,000 million. Combine the two resources and ownership of Silver Standard gives a claim to over US$42,000 million worth of precious metals up and down the Americas.
At this stage it is only fair to point out that only 195 million of those silver ounces are in the proven and probable categories, and that none of these ounces will be extracted and sold for some months yet. Worse, the bulk of those silver ounces are in Argentina, a country that has had a rather capricious attitude to capitalism in recent years. Minesite put that observation to Robert Quartermain, president and chief executive officer. He was unfazed, and replied that the important level...
TSX: SSO
NASDAQ: SSRI
Silver Standard Resources Inc.
Jun 24, 2009 17:48 ET
Silver Standard Resources Inc.: Breccia Ridge Underground Pre-Feasibility Study and Pitarrilla Project Update
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2009) - Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) is pleased to report the results of a pre-feasibility study for the underground component of the Breccia Ridge Zone at its wholly-owned Pitarrilla Project in Durango State, Mexico. Based on the pre-feasibility study, the underground component of Breccia Ridge now contains probable silver reserves of 91.7 million ounces. Scoping studies on underground bulk mining and open pit development for Breccia Ridge are continuing, and, if satisfactory, pre-feasibility studies will follow. Feasibility-level studies are also continuing on certain aspects of the project. The Breccia Ridge Zone, containing 63% of Pitarrilla's total silver resource of 643.6 million ounces of measured and indicated silver resources and 82.3 million ounces of inferred silver resources, is the main focus of current project activities and is one of five zones of mineralization identified to date on the property.
Breccia Ridge Underground
Iouri Iakovlev, Senior Mining Engineer of Wardrop, A Tetra Tech Company, and an "independent qualified person" for the purposes of National Instrument 43-101, estimated diluted probable reserves of 91.7 million ounces of silver for Breccia Ridge using a silver price of US$11.00/oz, zinc price of US$0.70/lb, lead price of US$0.50/lb and a US$50.00/tonne net smelter returns cut-off.
Breccia Ridge Underground Reserves
--------------------------------------------------
Tonnes Silver Zinc Lead Silver
(millions) (g/t) (%) (%) (million oz)
--------------------------------------------------
Probable 16.7 171 2.57 1.12 91.7
Reserves(i)
--------------------------------------------------
(i) Reserves are based on US$50.00/tonne net smelter returns cut-off grade
using Base Case metal prices of US$11.00/oz of silver, US$0.70/lb of
zinc and US$0.50/lb of lead with recoveries varying by rock type.
As presented in the pre-feasibility study, completed by Wardrop, A Tetra Tech Company, the underground project has a 12-year mine life, mining 4,000 tonnes per day and producing approximately seven million ounces of silver per year. Capital costs are projected at US$277 million with average operating costs of US$33.81/tonne. Recoveries vary by rock type with expected weighted average recoveries of 88.4% for silver, 93.2% for zinc and 89.6% for lead.
Ore processing will produce two concentrates: lead and zinc. The lead concentrate is expected to average 60.7% lead and approximately 8,000 g/t silver. The zinc concentrate is expected to average 48.5% zinc and approximately 400 g/t silver.
Breccia Ridge Underground Pre-Feasibility Summary(i)
--------------------------------------------------
Production Summary
--------------------------------------------------
Tonnes of Ore (diluted) 16.7 million tonnes
--------------------------------------------------
Processing Rate 4,000 tonnes per day
--------------------------------------------------
Mine Life 12 years
--------------------------------------------------
Weighted Average Recoveries 88.4% silver, 93.2% zinc, 89.6% lead
--------------------------------------------------
Average Annual Silver Production in 7 million ounces
Concentrates
--------------------------------------------------
Total Silver Produced 80 million ounces
--------------------------------------------------
Operating Costs
--------------------------------------------------
Mining Cost $14.55/tonne milled
--------------------------------------------------
Processing Cost $9.15/tonne milled
--------------------------------------------------
Power Cost $6.03/tonne milled
--------------------------------------------------
G&A Cost $4.08/tonne milled
--------------------------------------------------
Total Operating Costs $33.81/tonne milled
--------------------------------------------------
Total Capital Costs $277.4 million
--------------------------------------------------
(i) All monetary values in U.S. dollars.
Breccia Ridge Underground Pre-Feasibility - Financial Results
--------------------------------------------------
NPV at 5%
Discount
Price Silver Zinc Lead (millions IRR Payback
Scenario (US$/oz) (US$/lb) (US$/lb) US$) % (Years)
--------------------------------------------------
SSRI 11.00 0.70 0.50 107.4 10.9 6.2
Base Case
--------------------------------------------------
5-year 11.16 0.99 0.72 310.5 20.3 3.8
Average(i)
--------------------------------------------------
2-year 14.06 1.01 1.02 521.1 28.9 2.8
Average(i)
--------------------------------------------------
Spot(i) 14.02 0.71 0.77 320.1 20.4 3.9
--------------------------------------------------
(i) at June 16, 2009
Based on the pre-feasibility study and spot metal prices at June 16, 2009, the underground component of the project has a net present value of US$320 million at a 5% discount rate.
Underground Bulk Mining Opportunities
In carrying out the pre-feasibility study, Wardrop identified the potential for underground bulk mining opportunities for the Breccia Ridge underground resource (shown below) which require further study. As a result, a scoping study to be followed, if warranted, by a pre-feasibility study on the Breccia Ridge underground project is underway.
Breccia Ridge Underground Resource Summary - August 2008
--------------------------------------------------
Silver Contained
Tonnes Grade Zinc Lead Silver
Category (millions) (g/t) (%) (%) (million oz)
--------------------------------------------------
Measured 18.5 91.6 1.24 0.70 54.5
--------------------------------------------------
Indicated 48.5 89.2 1.68 0.66 139.1
--------------------------------------------------
Inferred 19.3 51.3 1.12 0.54 31.8
--------------------------------------------------
The above block model resource estimate is contained in the "Technical
Report and Resource Estimate on the La Pitarrilla Property, Breccia Ridge
Deposit, Durango, Mexico" prepared by P&E Mining Consultants Inc. of
Brampton, Ontario and filed on www.sedar.com on August 28, 2008 and is
based on a cut-off grade of 65 grams of silver-equivalent per tonne for
underground resources. Silver-equivalent grades were calculated using
US$11/oz silver, US$1.05/lb zinc, US$0.75/lb lead and US$2.00/lb copper.
Open Pit Opportunities
Concurrent with the advancement of the Breccia Ridge underground, a scoping study to be followed, if warranted, by a pre-feasibility study on the Breccia Ridge open-pit opportunity is underway. Metallurgical testwork on recoveries of the open-pit, oxide-sulfide material is in progress along with geotechnical drilling data for pit design.
Breccia Ridge Open Pit Resource Summary - August 2008
--------------------------------------------------
Contained
Tonnes Silver Zinc Lead Silver
(millions) (g/t) (%) (%) (million oz)
--------------------------------------------------
Indicated 105.6 63.6 0.68 0.31 215.8
--------------------------------------------------
Inferred 5.5 72.5 0.67 0.24 12.9
--------------------------------------------------
The above block model resource estimate is contained in the "Technical
Report and Resource Estimate on the La Pitarrilla Property, Breccia Ridge
Deposit, Durango, Mexico" prepared by P&E Mining Consultants Inc. of
Brampton, Ontario and filed on www.sedar.com on August 28, 2008 and is
based on a cut-off grade of 20 grams of silver-equivalent per tonne for
underground resources. Silver-equivalent grades were calculated using
US$11/oz silver, US$1.05/lb zinc, US$0.75/lb lead and US$2.00/lb copper.
In addition to Breccia Ridge, engineering and testwork continues on the four other surface zones: Pena Dike, Cordon Colorado, Javelina Creek and South Ridge. These four zones contain approximately one-third of total Pitarrilla resources and will complement the contemplated underground and open-pit scenarios of Breccia Ridge.
Other Surface Zones Resource Summary - May 2007
--------------------------------------------------
Tonnes Silver Contained Silver
(millions) (g/t) (million oz)
--------------------------------------------------
Measured 27.2 120.6 105.5
--------------------------------------------------
Indicated 35.6 112.5 128.8
--------------------------------------------------
Inferred 11.3 103.1 37.5
--------------------------------------------------
The above block model resource estimate is contained in the "Technical
Report on the La Pitarrilla Property" prepared by James A. McCrea, P. Geo.
and filed on www.sedar.com on May 25, 2007.
"We are pleased to convert resources to reserves at Pitarrilla, a major grass-roots discovery for Silver Standard and one of the largest silver discoveries in the past decade. We will now focus on advancing scoping and pre-feasibility studies on underground bulk mining, and open pit options in order to optimize this large resource and unlock further value for our shareholders," says President and CEO Robert Quartermain.
Kenneth C. McNaughton, M.A.Sc., P.Eng., vice president, exploration, Silver Standard Resources Inc., is the qualified person responsible for the Pitarrilla Project.
Silver Standard Resources Inc. is a significant silver and gold resource company making the transition from explorer to producer as well as seeking growth through exploration and development of its own projects. (Source: Silver Standard Resources Inc.)
To receive Silver Standard's news releases by e-mail, contact Paul LaFontaine, director, investor relations at invest@silverstandard.com or call (888) 338-0046.
Statements contained in this news release that are not historical fact, such as statements regarding the economic prospects of the company's projects, future plans or future revenues, timing of development or potential expansion or improvements, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company's ability to raise sufficient capital to fund development, changes in economic conditions or financial markets, changes in prices for the company's mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Mexico, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in the company's filings with the Securities and Exchange Commission.
Cautionary note to U.S. investors: The terms "measured mineral resource", "indicated mineral resource", and "inferred mineral resource" used in this news release are Canadian geological and mining terms as defined in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves. We advise U.S. investors that while such terms are recognized and permitted under Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in the measured and indicated categories will ever be converted into reserves. "Inferred mineral resources" in particular have a great amount of uncertainty as to their economic feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules estimates of inferred mineral resources may not generally form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that any part or all of an inferred mineral resource exists, or is economically or legally mineable. Disclosure of contained metal expressed in ounces is in compliance with NI 43-101, but does not meet the requirements of Industry Guide 7 of the SEC, which will only accept the disclosure of tonnage and grade estimates for non-reserve mineralization.
The TSX has neither approved nor disapproved of the information contained herein.
For more information, please contact
Silver Standard Resources Inc.
Robert A. Quartermain
President
(604) 689-3846
or
Silver Standard Resources Inc.
Paul LaFontaine
Director, Investor Relations
N.A. toll-free: (888) 338-0046 or Direct: (604) 484-8212
invest@silverstandard.com
www.silverstandard.com
Click here to see all recent news from this company
29.06.2009 | 13:02 Uhr | Autor: Redaktion
Das Unternehmen hat eine vorläufige Machbarkeitsstudie für sein Pitarrilla Projekt in Mexiko veröffentlicht. Die nachgewiesenen und möglichen Reserven belaufen sich auf 91,7 Mio. oz Silber. Nach Investitionen von 280 Mio. US$ könnte die Anlage täglich 4000 t verarbeiten und über das Minenleben von 12 Jahren 7 Mio. oz Silber pro Jahr produzieren.
Das Hochfahren des Pirquitas Projekts im nächsten Quartal wird, so GMP, für die Kursentwicklung ausschlaggebend sein.
GMP hebt sein Kursziel von 40,50 US$ auf 41,00 US$ pro Aktie an und behält die Kaufempfehlung bei.
© Redaktion MinenPortal.de
Silver Standard Resources Inc.: Brucejack Drilling Cuts Bonanza Grades
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2009) - Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) is pleased to report that diamond drilling in the Brucejack Area of its wholly-owned Snowfield Project continues to intersect significant values of gold-silver mineralization. The property is located 65 kilometers north of the town of Stewart and 15 kilometers southeast of Barrick's high-grade gold-silver mine at Eskay Creek.
Galena Hill Zone
Drilling at the Galena Hill Zone, located five kilometers south of the Snowfield Zone and referenced in the news releases dated August 5 and August 20, 2009, continues to intersect gold mineralization with significant intervals encountering visible gold.
A new highlight from the Galena Hill Zone is hole SU-12 which intersected four bands of mineralization. The best intersection included:
- 1.5 meters with uncut grades of 16.95 kilograms of gold and 8.7 kilograms of silver per tonne (4.9 feet averaging 494.3 ounces of gold and 254 ounces of silver per ton).
- This intersection ocurred within a wider interval of 20.6 meters with cut grades of 5.33 grams of gold and 159 grams of silver per tonne (68 feet averaging 0.15 ounces of gold and 4.6 ounces of silver per ton). For the quoted average gold assays, any assay in excess of 31.1 grams of gold per tonne was cut to 31.1 grams of gold per tonne.
SU-12 is collared approximately 100 meters southwest of SU-05 which intersected 155 meters averaging 1.26 grams of gold per tonne (509 feet averaging 0.04 ounces of gold per ton), including 12 meters averaging 5.37 grams of gold per tonne (39 feet averaging 0.16 ounces of gold per ton).
Bridge Zone
The Bridge Zone, located 1,200 meters south of the Galena Hill Zone, is a new discovery made by Silver Standard. Highlights from SU-19, collared approximately 100 meters southwest of SU-10, include:
- 552 meters of 0.87 grams of gold per tonne (1,811 feet averaging 0.025 ounces of gold per ton), including 260 meters of 1.19 grams of gold per tonne (852 feet averaging 0.034 ounces of gold per ton).
Previously reported hole SU-10 intersected 483 meters of 0.70 grams of gold per tonne (1,585 feet averaging 0.02 ounces of gold per ton), including two higher grade intervals of 50 meters of 1.26 grams of gold per tonne (162 feet averaging 0.037 ounces of gold per ton) and 33 meters of 1.25 grams of gold per tonne (108 feet averaging 0.036 ounces of gold per ton).
SU-19 ended in mineralization and at least 10 holes are planned in its vicinity to begin defining the size of the new discovery. SU-11 was collared approximately 500 meters northwest of SU-10 and intersected three bands of mineralization summarized in the table below.
There are also over 900 historic diamond drill holes from both surface and underground drilling in the Brucejack area. Silver Standard anticipates being able to incorporate a portion of this data in future resource estimates.
A minimum of 8,000 meters of diamond drilling is planned to test targets in the Brucejack area, and three drills are currently at work on various targets.
Selected Brucejack Area Drill Results(i)
September 2009
--------------------------------------------------
Hole No. From To Interval Gold Silver
(meters) (meters) (meters) (g/tonne) (g/tonne)
--------------------------------------------------
Bridge Zone
--------------------------------------------------
SU-10(1)(2) 346.0 395.5 49.5 1.26 16.1
--------------------------------------------------
457.0 489.8 32.8 1.25 7.8
--------------------------------------------------
SU-11 18.0 72.0 54.0 1.51 11.1
--------------------------------------------------
108.0 124.5 16.5 1.05 13.3
--------------------------------------------------
345.0 387.0 42.0 0.52 3.4
--------------------------------------------------
SU-19(2) 4.0 556.3 552.3 0.87 5.7
--------------------------------------------------
296.5 556.3 259.8 1.19 6.78
--------------------------------------------------
Galena Hill Zone
--------------------------------------------------
SU-05(1) 39.2 51.5 12.3 0.61 13.3
--------------------------------------------------
323.5 478.5 155.0 1.26 20.4
--------------------------------------------------
Incl. 466.5 478.5 12.0 5.37 26.3
--------------------------------------------------
SU-06(1) 40.0 84.5 44.5 1.83 20.3
--------------------------------------------------
Incl. 56.7 68.0 11.3 4.65 55.2
--------------------------------------------------
146.0 225.5 79.5 1.01 10.5
--------------------------------------------------
278.9 356.5 77.6 1.01 5.5
--------------------------------------------------
--------------------------------------------------
Hole No. From To Interval Gold Silver
(meters) (meters) (meters) (g/tonne) (g/tonne)
--------------------------------------------------
Galena Hill Zone (cont'd)
--------------------------------------------------
SU-12 258.0 278.6 20.6 5.33 158.8
--------------------------------------------------
Incl. 273.0 274.5 1.5 16,949 8,696
--------------------------------------------------
301.0 323.8 22.8 1.02 10.2
--------------------------------------------------
354.4 373.5 19.1 2.64 9.7
--------------------------------------------------
460.0 502.0 42.0 1.59 8.4
--------------------------------------------------
SU-17(2) 113.0 203.4 90.4 1.13 12.6
--------------------------------------------------
Mammoth Zone
--------------------------------------------------
SU-13 147.0 161.0 14.0 0.98 1.7
--------------------------------------------------
238.5 295.5 57.0 1.21 3.0
--------------------------------------------------
SU-14 41.0 45.5 4.5 5.42 5.8
--------------------------------------------------
304.4 323.0 18.6 1.98 2.0
--------------------------------------------------
SU-15 407.5 449.0 41.5 1.01 19.1
--------------------------------------------------
493.0 518.0 25.0 1.24 4.1
--------------------------------------------------
(i) True thickness to be determined. (1) Previously reported. (2) Ended
in mineralization. Kenneth C. McNaughton, M.A.Sc., P.Eng., and vice
president, exploration, Silver Standard Resources Inc., is the Qualified
Person (QP) responsible for the Snowfield exploration program and has
verified the data in the table above. All samples were submitted for
preparation and analysis by ALS Chemex at its facilities in Vancouver, B.C.
All samples were analyzed using aqua regia digestion with ICP finish.
Samples over 100 ppm silver were reanalyzed using four acid digestion with
an ore grade AA finish. Samples over 1,000 ppm silver were fire assayed
with a gravimetric finish. Samples with over 10 ppm gold were fire assayed
with a gravimetric finish. One in 20 samples were blind duplicate assayed
at ALS Chemex in Vancouver, B.C.
Kenneth C. McNaughton, M.A.Sc., P.Eng., vice president, exploration, Silver Standard Resources Inc., is the qualified person responsible for the Snowfield Project.
Silver Standard Resources Inc. is a significant silver and gold resource company making the transition from explorer to producer as well as growing through exploration and development of its own projects. (Source: Silver Standard Resources Inc.)
To receive Silver Standard's news releases by e-mail, contact Paul LaFontaine, director, investor relations at invest@silverstandard.com or call (888) 338-0046.
Statements contained in this news release that are not historical fact, such as statements regarding the economic prospects of the company's projects, future plans or future revenues, timing of development or potential expansion or improvements, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company's ability to raise sufficient capital to fund development, changes in economic conditions or financial markets, changes in prices for the company's mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Mexico, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in the company's filings with the Securities and Exchange Commission.
Cautionary note to U.S. investors: The terms "measured mineral resource", "indicated mineral resource", and "inferred mineral resource" used in this news release are Canadian geological and mining terms as defined in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves. We advise U.S. investors that while such terms are recognized and permitted under Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in the measured and indicated categories will ever be converted into reserves. "Inferred mineral resources" in particular have a great amount of uncertainty as to their economic feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules estimates of inferred mineral resources may not generally form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that any part or all of an inferred mineral resource exists, or is economically or legally mineable. Disclosure of contained metal expressed in ounces is in compliance with NI 43-101, but does not meet the requirements of Industry Guide 7 of the SEC, which will only accept the disclosure of tonnage and grade estimates for non-reserve mineralization.
The TSX has neither approved nor disapproved of the information contained herein.
For more information, please contact
Silver Standard Resources Inc.
Robert A. Quartermain
President
(604) 689-3846
or
Silver Standard Resources Inc.
Paul LaFontaine
Director, Investor Relations
N.A. Toll Free: 1-888-338-0046 or Direct: (604) 484-8212
Email: invest@silverstandard.com
Website: www.silverstandard.com
Hi,
ziemliches Gap heute - ob das ein nachhaltiger Ausbruch wird?
Meine Zweifel steigen um so länger ich den Chart anschaue ...
gruß
Optionen
| Boardmail an "Vermeer" |
Wertpapier: SSR Mining |
Silver Standard Reports Fourth Quarter and Year-End 2009 Results
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2010) - Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) provides the following updates on the Pirquitas Mine and principal development projects and reports on headline financial results from the company's fourth quarter of 2009. Effective January 1, 2009, the company adopted the U.S. dollar as its reporting currency and all figures are in U.S. dollars, unless otherwise noted.
(This news release contains forward-looking information that is subject to the risks and assumptions set out in the company's Cautionary Statements on Forward-Looking Information located on the last page of this news release.)
Pirquitas Mine
Pirquitas produced 1.1 million ounces during the year. Since December 1, 2009, the date of achievement of commercial production, the mine produced to year-end 545,600 ounces of silver at a cash production cost of $8.99 per silver ounce(1). Total cash costs, including transportation, treatment, refining, export taxes and royalties, were $16.57 per silver ounce(1). During the month, the company sold 460,100 ounces of silver at a realized price of $17.49 per ounce(1) and, after deducting treatment and refining charges, recorded revenues of $5.4 million.
The plant has a crushing capacity of 6,000 tonnes per day. This feeds a pre-concentration plant that is designed to feed the mill at a rate of 3,200 tonnes per day. The mill's feasibility design capacity was exceeded in both November and December.
The mill is processing transitional ore and is anticipated to process sulphide ore at full capacity during the second quarter of 2010. The tin circuit is commissioned and will be operated when suitable material is available in Q2 2010. Production in 2010 is planned to be seven million ounces of silver at an average cash production cost of $9.00 per ounce of silver net of by-product credits.
Financial Results
(All figures are in US dollars unless otherwise noted)
* Silver Standard recorded a net loss of $9.1 million or $0.13 per share for the three months ended December 31, 2009, compared to a net loss of $14.3 million or $0.23 per share for the same period in the prior year. Silver Standard recorded a net loss of $13.2 million or $0.19 per share for the year ended December 31, 2009, compared to a loss of $5.9 million or $0.09 per share in 2008.
* For the three months ended December 31, 2009, capital expenditures at the Pirquitas property in Argentina totalled $21.2 million including $20.4 million for construction and mining equipment and $0.8 million for project development costs. Mineral property expenditures totalled $0.8 million at Pitarrilla in Mexico, $1.7 million at the San Luis Project in Peru, and $0.3 million at the Diablillos property in Argentina.
(1) Cash production cost per ounce and cash operating cost per ounce are Non-GAAP measures discussed under non-GAAP financial performance measures contained in the MD&A for the year ended December 31, 2009.
* For the year ended December 31, 2009, capital expenditures at the Pirquitas property in Argentina totalled $90.5 million for construction and mining equipment and $50.1 million in development costs (project to date of $255 million for construction and mining equipment and $79 million in development costs). Mineral property expenditures for the year were $4.3 million at Pitarrilla; $10.3 million at the Snowfield and Brucejack Projects in Canada; $5.4 million at the San Luis Project; and $1.7 million at the Diablillos Project.
* Cash and cash equivalents at December 31, 2009 were $26.7 million compared to $72.0 million at 2008. Working capital at December 31, 2009 was $24.5 million compared to $41.5 million at December 31, 2008.
* In November 2009, the company sold its MAV II Class A-1 and A-2 Notes received following the restructuring of the Canadian asset-backed commercial paper market for cash proceeds of $20.1 million.
* In February 2010, the company completed a public offering of 6,728,755 common shares (including a partial exercise of an over-allotment option) at $17.00 per share, for net proceeds of approximately $107.8 million after commissions and estimated expenses.
* In February 2010, the company sold its 100% interest in the Silvertip Project to Silvercorp Metals Inc. Silver Standard received a total consideration of $14.25 million for an estimated after-tax gain of $12.1 million. The sale of the Silvertip Project is part of the ongoing rationalization of Silver Standard's portfolio of non-core assets.
Selected Financial Data (US$000's, except per share amounts)This summary of selected financial data should be read in conjunction with the management discussion and analysis ("MD&A") of the audited consolidated operating results and financial condition of the company for the three months and years ended December 31, 2009 and December 31, 2008.
Three Months Ended
December 31(2) Year Ended
December 31(2)
2009 2008
Restated 2009 2008
Restated
Loss (9,126) (14,312) (13,193) (5,946)
Loss per share (basic and diluted) (0.13) (0.23) (0.19) (0.09)
Cash used in operating activities (20,870) (57) (39,943) (19,093)
Cash generated by financing activities 3,548 531 146,413 138,719
Cash used in mineral property costs, property, plant and equipment (13,885) (51,262) (152,194) (169,675)
Financial Position December 31, 2009 December 31, 2008
Cash and cash equivalents 26,659 72,013
Accounts receivable 6,238 2,772
Marketable securities 17,863 10,923
Inventories 20,565 -
Current assets – total 75,197 86,814
Other investments – ABCP - 21,803
Current liabilities – total 50,682 45,328
Working capital 24,515 41,486
Total assets 749,925 567,905
(2) Certain comparative figures have been restated reflecting the adoption of EIC 172 "Income Statement Presentation of a Tax Loss Carry Forward Recognized Following an Unrealized Gain Recorded in Other Comprehensive Income".
Principal Projects
San Luis Project
At San Luis in Peru, geotechnical drilling for the tailings dam is required and is nearing completion. The environmental permit application will be submitted when the feasibility study is completed. The feasibility study is expected to be finalized in the second quarter of 2010 upon completion of the geotechnical drilling and related engineering design work.
Pitarrilla Project
At Pitarrilla in Mexico, the Breccia Ridge underground feasibility study is underway and planned for completion in Q4 2010.
Snowfield and Brucejack Projects
In the fourth quarter, Silver Standard reported a significant increase in the gold resource estimate at the Snowfield Project and the Brucejack Project following last summer's major exploration program.
NI 43-101 compliant technical reports relating to the resource estimates at each of the Snowfield Project and the Brucejack Project were filed on SEDAR and posted on the company's web site on January 14, 2010.
At the Snowfield Project, the measured and indicated resources were 4.14 million and 15.63 million ounces of gold, respectively, and inferred resources were 10.05 million ounces of gold.
At the Brucejack Project, measured and indicated resources were 0.66 million and 3.38 million ounces of gold, respectively, and 23.8 million and 41.6 million ounces of silver, respectively, and inferred resources were 4.87 million ounces of gold and 71.5 million ounces of silver.
A preliminary economic assessment has commenced on the Snowfield Project in British Columbia, and is expected to be reported in the second half of 2010. Planning is well underway for this summer's exploration campaign for the Brucejack and Snowfield projects.
Management Discussion & Analysis and Conference Call
This news release should be read in conjunction with Silver Standard's year-end 2009 Financial Statements and Management's Discussion and Analysis filed with Canadian securities regulators available at www.sedar.com or the company's web site at www.silverstandard.com. A conference call with management to review Fourth Quarter 2009 and year-end financial results and project activities is scheduled for Friday, March 5, 2010, at 11:00 a.m. EST.
Toll-free in North America: 1-888-429-4600
Overseas: 1-970-315-0481
This call will also be web-cast and can be accessed at the following web location:
http://ir.silverstandard.com/events.cfm
The call will be archived and available at www.silverstandard.com after March 5, 2010.
Audio replay will be available for one week by calling toll free in North America: 1-800-642-1687, conference ID 59028765; and overseas callers may telephone 1-706-645-9291, conference ID 59028765. (Source: Silver Standard Resources Inc.)
Cautionary Statements on Forward Looking Information: Statements in this news release relating to the estimated production, recoveries of silver and tin, timing of processing of sulphide ore and operations of the tin circuit, anticipated revenues, cash and operating costs per silver ounce, cost to complete construction, estimated costs of mining, milling and administration, operations of the tin circuit, all relating to the Pirquitas Mine, timing to complete feasibility studies and assessments of principal projects, and certain statements relating to our other projects, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the company's ability to raise sufficient capital to fund development; changes in economic conditions or financial markets; changes in prices for the company's mineral products or increases in input costs; uncertainty of production cost estimates for the Pirquitas Mine, risks and uncertainties associated with new mining operations, including start-up delays and operational issues, risks relating to the interpretation of drill results and the geology, grade and continuity of our mineral deposits; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Argentina, Australia, Canada, Chile, Mexico, Peru, the United States and other jurisdictions in which the company may carry on business; technological and operational difficulties or the delay, non-compliance or inability to obtain permits encountered in connection with exploration and development activities; labour relations matters; and changing foreign exchange rates, all of which are described more fully in the company's Management Discussion and Analysis under the heading "Risks and Uncertainties" and in other filings with the Securities and Exchange Commission and Canadian regulatory authorities.
Cautionary note to U.S. investors: The terms "measured mineral resource", "indicated mineral resource", and "inferred mineral resource" used in this news release are Canadian geological and mining terms as defined in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves. We advise U.S. investors that while such terms are recognized and required under Canadian regulations, the U.S. Securities and Exchange Commission (the "SEC") does not recognize these terms. "Inferred mineral resources" in particular have a great amount of uncertainty as to their economic feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules estimates of inferred mineral resources may not generally form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that any part or all of an inferred mineral resource exists, or is economically or legally mineable. Disclosure of contained metal expressed in ounces is in compliance with NI 43-101, but does not meet the requirements of Industry Guide 7 of the SEC, which will only accept the disclosure of tonnage and grade estimates for non-reserve mineralization.
For more information, please contact
Silver Standard Resources Inc.
Paul LaFontaine
Director, Investor Relations
N.A. toll-free: (888) 338-0046 or Direct: (604) 484-8212
invest@silverstandard.com
www.silverstandard.com
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